Russell Investments Group Ltd. Cuts Holdings in Lindsay Co. (NYSE:LNN)

Russell Investments Group Ltd. lowered its stake in shares of Lindsay Co. (NYSE:LNN - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,792 shares of the industrial products company's stock after selling 7,275 shares during the period. Russell Investments Group Ltd. owned 0.37% of Lindsay worth $4,708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Barclays PLC raised its stake in shares of Lindsay by 248.8% during the 3rd quarter. Barclays PLC now owns 19,607 shares of the industrial products company's stock worth $2,446,000 after acquiring an additional 13,986 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Lindsay by 90.3% during the fourth quarter. GAMMA Investing LLC now owns 276 shares of the industrial products company's stock worth $33,000 after purchasing an additional 131 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Lindsay by 746.5% during the 4th quarter. SG Americas Securities LLC now owns 52,138 shares of the industrial products company's stock valued at $6,168,000 after purchasing an additional 45,979 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Lindsay in the 4th quarter worth $679,000. Finally, KBC Group NV grew its stake in Lindsay by 1.6% during the 4th quarter. KBC Group NV now owns 348,514 shares of the industrial products company's stock worth $41,233,000 after buying an additional 5,382 shares during the last quarter. Institutional investors own 89.94% of the company's stock.

Lindsay Stock Performance

Lindsay stock traded down $0.56 during trading hours on Friday, hitting $124.22. 75,098 shares of the stock traded hands, compared to its average volume of 86,609. The firm's 50 day moving average price is $128.73 and its 200-day moving average price is $126.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.87 and a quick ratio of 2.65. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 19.94 and a beta of 0.72. Lindsay Co. has a 1 year low of $109.27 and a 1 year high of $140.27.

Lindsay (NYSE:LNN - Get Free Report) last issued its quarterly earnings results on Thursday, April 3rd. The industrial products company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.55. Lindsay had a net margin of 11.18% and a return on equity of 13.17%. The company had revenue of $187.10 million for the quarter, compared to the consensus estimate of $174.50 million. During the same quarter in the prior year, the company earned $1.64 EPS. Lindsay's quarterly revenue was up 23.5% on a year-over-year basis. As a group, equities analysts expect that Lindsay Co. will post 5.82 EPS for the current fiscal year.

Lindsay Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, May 16th. Lindsay's dividend payout ratio is currently 20.48%.

Analyst Ratings Changes

Several brokerages have weighed in on LNN. Stifel Nicolaus lowered their price target on Lindsay from $134.00 to $128.00 and set a "hold" rating for the company in a report on Wednesday. StockNews.com upgraded shares of Lindsay from a "hold" rating to a "buy" rating in a research note on Friday, April 11th.

Lindsay Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.